Germany Plans Law to Ensure
Takeovers Are Fair, Transparent

BERLIN -- As a merger wave sweeps across Germany, the government of Chancellor Gerhard Schroeder is planning a new law to make sure takeovers are fair and transparent.

On the same day Germany's two largest banks, Deutsche Bank AG and Dresdner Bank AG, formally announced plans to merge, Mr. Schroeder began work on a national law to go with planned European Union rules on takeovers. An EU directive regulating cross-border takeovers has been in the works for years and is expected to pass later this year. Mr. Schroeder's...